In a newly released autobiography, called Ithaki, the former prime minister Alexis Tsipras does not hold back as he revisits the chaotic era during Greece's debt drama.
A Controversial Choice
In Tsipras's version, Tsipras appointed that maverick academic Varoufakis to be his finance minister mainly because of the latter's international reputation and Varoufakis's highly compelling skills when it came to public orator.
“In reality, he was, in reality, more like a celebrity and less of an economic expert,” recalled Tsipras.
Clashing Priorities
Tsipras alleges how Varoufakis possessed a personal motives which involved promoting his publications and testing out his theories using the nation instead of genuinely advocating its financial survival.
Tsipras explained how those discussions to prevent bankruptcy were “not just a way of achieving improved terms for Greece. They were a test, a monumental opportunity to demonstrate the validity of his theories.”
High-Stakes Talks
Amid volatile discussions, the country found itself dangerously close to leaving the single currency area.
On the line lay both the country's future and the punishing austerity policies demanded in return for bailout funds by foreign lenders.
Failed Alternatives
Attempts to secure financing from other sources, such as an urgent appeal to Russia to buy Greek bonds, went unanswered.
Helping Greece was equivalent to throwing money in the trash-can, Putin reportedly told his Greek counterpart in Moscow.
Referendum Followed by Reversal
That summer, the harsh conditions were subjected to a public vote, a move which threw the EU into further crisis of identity.
Even though the vote was carried decisively by those who opposed austerity, the prime minister had little option but to reject its outcome and agree to a rescue deal with foreign lenders that turned out to be tougher.
Breaking Point
Tsipras revealed how he started questioning Varoufakis relatively soon.
“Varoufakis was the public image of negotiation, the figure who attracted media attention, who graced the front pages of publications the world over … he gave the impression he relished the spotlight.”
After the minister outlined a contingency plan that included establishing a secondary currency and distributing coupons to pensioners, the leader said he realised it was the end questioning him: “Is this for real?”
Lasting Rebuke
Within the memoir, the author concludes how his former ally demonstrated himself “unsuitable for a deal demanding complex and delicate handling.”
Tsipras also claimed that his aggressive approach made him increasingly isolated among peers, put Greece at risk, and helped hawks that were advocating a Greek exit from the euro.
The account of history has been met with anger along with stunned disbelief in some quarters, whereas Varoufakis has maintained a deafening silence on the matter.
